Considering the characteristic of medium and long term voltage stability, the simulation algorithm of medium and long term voltage stability used quasi-steady-state assumption is studied. Based on the numerical integration methods currently used in the time-domain simulation analysis, a decoupled simulation algorithm which synthesizes the desirable properties of implicit and explicit algorithms is presented. For quasi-steady-state simulation of the system, its algebraic equations and differential equations are solved separately. This algorithm effectively coordinates the contradictions in both computational speed and accuracy of the time-domain simulation of the medium and long term voltage stability. Then the implement method of the quasi-steady-state simulation based on the continuous load parameters is discussed, and the simulation results are illustrated on the New England 10-machine 39-bus test system, by which the accuracy and effectiveness of the method are approved.